The Kingdom of Saudi Arabia will remain committed to meeting global demands for oil and to a stable petroleum policy that will go a long way in addressing the grievances of oil-producing nations as well consuming countries across the globe, new Energy Minister Khalid Al Falih said.
The Saudi Minister reaffirmed "the commitments to meet demand and maintain stable oil policies".
Al Falih said the Kingdom would remain committed to maintaining its role in international energy markets and establishing its position as the world’s most reliable supplier of energy.
"We are also committed to meeting existing and additional hydrocarbons demand from our expanding global customer base, backed by our current maximum sustainable capacity," Al Falih said in remarks published in the Saudi daily (Arab News).
Al Falih, who will be heading the new Ministry of Energy, Industry and Mineral Resources, said Saudi Arabia is taking steps to shore up its public finances and reduce the economy’s reliance on oil. He expressed optimism that the Kingdom will march ahead with the ambitious diversification process within the framework of the Kingdom’s 2030 Vision that calls for cutting dependence on energy.